TeraWulf Launches $400M Convertible Notes Offering To Fund Data Center Expansion
TeraWulf, an operator of vertically integrated, predominantly zero-carbon digital infrastructure, launched a private offering of $400 million aggregate principal amount of convertible senior notes due 2031.
The company may also grant initial purchasers a 13-day option to buy up to an additional $60 million of notes.
TeraWulf plans to use the proceeds primarily to fund capped call transactions to reduce dilution from potential note conversions.
It will allocate the remaining proceeds toward expanding its data centers and supporting general corporate purposes. The notes will be senior unsecured obligations, paying semiannual interest starting March 1, 2026, and maturing September 1, 2031.
Separately, Alphabet’s Google committed an additional $1.4 billion to backstop project-related debt financing and secured warrants to purchase 32.5 million TeraWulf shares. This new commitment raises Google’s total backstop to $3.2 billion and expands its pro forma equity stake in TeraWulf to about 14%.
Bitcoin Bull & Billionaire Chamath Palihapitiya Files For $250M SPAC Targeting DeFi, AI
Early Bitcoin investor and billionaire Chamath Palihapitiya filed to raise $250 million in blank-check company “American Exceptionalism Acquisition Corp A,” targeting the decentralized finance, AI, energy and defense sectors.
The special purpose acquisition company (SPAC) would be led by Social Capital managing partner Steven Trieu as CEO and Palihapitiya as chairman, according to the registration statement filed with the US Securities and Exchange Commission on Monday.
The $250 million raise seeks to offer 25 million shares at $10 each under the ticker AEXA on the New York Stock Exchange.
Palihapitiya and Trieu are betting on decentralized finance, not Bitcoin, to lead the next wave of financial innovation, focusing on solutions that bridge traditional markets with blockchain technology.
IVIX Secures $60M Series B To Tackle Crypto Crimes
IVIX announced a $60 million Series B funding led by OG Venture Partners, aimed at enhancing AI-based compliance to tackle cryptocurrency-related financial crimes.
This funding underscores the increasing focus on AI-driven compliance solutions to curb financial crime, impacting major cryptocurrencies like Bitcoin and Ethereum across global markets.
The Coincu research team suggests the increasing partnerships between compliance platforms and regulatory bodies may foster stricter oversight, potentially reducing illicit activity in the cryptocurrency space.
Transak Raises $16M From Tether & IDG Capital To Scale Stablecoin Payments Infrastructure
Transak, a global leader in fiat-to-crypto infrastructure, has raised $16 million in strategic funding to expand its stablecoin payments stack and scale operations across new markets.
The round was led by Tether and IDG Capital, with participation from several other top-tier investors. With stablecoins rapidly becoming the transaction layer of the internet, powering remittances, payments, savings, and cross-border commerce, the next phase of adoption depends on compliant, localized, and developer-friendly infrastructure. Transak is at the center of this shift.
The $16 million round also included participation from Primal Capital, 1kx, Protein Capital, CEiC, KX VC, 3KVC, Genting Ventures, Fuel Ventures and Umami Capital.
Circle Acquires Malachite To Power Its Upcoming Arc Blockchain
Stablecoin issuer Circle (CRCL) has acquired Malachite, the consensus engine that is set to underpin payments-focused blockchain Arc, from software development firm Informal Systems.
The deal includes the underlying technology and intellectual property of Malachite, and nine persons from Informal Systems will join Circle. The firms didn’t reveal details about pricing.
The deal comes as Circle, the company behind the $65 billion USDC (USDC) token, announced last week it’s building its own layer-1 blockchain designed for stablecoin finances, a recent trend among asset issuers aiming to capitalize on the booming sector.
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